The value of the painting– mortgage debt in this case – will be determined by what the people in the “room” are willing to pay. Sounds good, except that isn’t exactly what they are proposing. They want to do a reverse auction, which means that the owner ….. Second, the government should receive, at a discount to be paid over the two years, from the banks all the residential units currently in foreclosure. As the aim is to rescue the financial industry on the one hand, …